Quote:
Originally Posted by asagaai
Did I hear on the news today that the UK government is going to be effecting mortgage relief for a few months to help mortgage owners.
Last couple of years has been intense media commentary about housing bubble in Sydney and Melbourne and effect higher interest rates would have on defaults....
This Covid 19 with loss of employment extending what- 6 months-12 months-16 months- has the potential to be devastating on mortgage defaults....
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Yeah, im sorta thinking where Australia is concerned, those 10x annual wage mortgaged purchases we're fine while everything was rosie, now its all gone belly up those people who've driven house prices up through greed and stupidity should suffer the consequences of their decisions.
They cant have their cake and eat it too.
A good time for a reset on that front and Govco gets a free kick at COVIDS expense in letting it happen.